Global output growth slows as India, EU record dip

Crude steel production in the 64 countries reporting to the World Steel Association (worldsteel) rose 4.1% on-year in February to 150.17 million tonnes, slowing further from January growth, Kallanish notes.

Chinese production is estimated to have risen 11% to 83.05mt, but Indian and Japanese output fell 3% and 5.6% respectively to 9.15mt and 7.47mt. South Korean output rose 1.2% to 5.48mt and Vietnamese production is estimated to have grown 18% to 1.58mt.

EU27 production fell for the second consecutive month, by 7.1% to 11.87mt. German output was down 10.4% to 3.1mt but Italian production rose 1.6% to 2.07mt. French and Spanish output was down 8.8% and 0.1% respectively to 1.12mt and 1.1mt.

The UK saw output grow 7.5% to 619,000t.

Turkish production meanwhile rose 5.9% to 3.02mt.

US production slumped further, by 10.9% to 6.3mt, while Brazilian production grew again, by 3.8% to 2.85mt.

CIS production fell 1.5% to 8mt, with Russian output estimated down 1.3% to 5.73mt and Ukrainian output confirmed down 2% to 1.68mt.

Global crude steel production in January-February thus grew 6.6% on-year to 314.99mt.

Adam Smith Germany